The owner of Fortune magazine will lead the Thai company DV8 to enter the Bitcoin and DeFi banking business

ChainCatcher news, according to cryptoslate, Thailand's listed company DV8 Public Company Limited announced the appointment of Chatchaval Jiaravanon, the owner of Fortune magazine and a member of Charoen Pokphand Group, as chairman, officially entering the Bitcoin and DeFi banking business.

Jiaravanon previously founded the blockchain company Lightnet, providing low-cost remittance services for Southeast Asian migrants. He will lead DV8 in building a crypto-integrated digital bank, advancing Bitcoin-centric financial practices, and investing in DeFi, digital infrastructure, and corporate governance innovations.

This leadership reshuffle comes after DV8 was acquired by a crypto investment consortium, which includes Sora Ventures, UTXO Management, Kliff Capital, among others, with all investors accepting a 12-month lock-up period.